HAPPY FORGINGS LIMITED IPO
₹ 808 - ₹ 850
19-Dec-2023 - 21-Dec-2023
₹ 14450.00

/ 17 Shares

HAPPY FORGINGS LIMITED IPO

19-Dec-2023 - 21-Dec-2023

₹ 808 - ₹ 850

Price Band

₹ 14450.00

Minimum Investment

17

Bid Lot

11,865,802

Shares

IPO Details

Fresh Issue of Equity Shares aggregating upto Rs. 400 Cr + Offer for Sale of 7,159,920 Equity shares

Category % Shares/Amount
QIB 50% 5,932,900 Shares Rs. 504.30 Cr
HNI 1 5% 593,291 Shares Rs. 50.43 Cr @ 2493 forms for 1 X
HNI 2 10% 1,186,580 Shares Rs. 97.85 Cr @ 4986 forms for 1 X
Retail 35% 4,153,031 Shares Rs. 353.01 Cr @ 244296 forms for 1 X

Axis Capital, JM Financial, Equirus Capital, Motilal Oswal

Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
244296 forms for 1 X 2493 forms for 1 X 4986 forms for 1 X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 17 ₹ 14,450
Retail (Upto 2 Lakh) 13 221 ₹ 187,850
S-HNI (2 Lakh to 10 Lakh) 14 238 ₹ 202,300
S-HNI (2 Lakh to 10 Lakh) 69 1173 ₹ 997,050
B-HNI (Above 10 Lakh) 70 1190 ₹ 1,011,500

IPO Timeline

  • Open Date

    19-Dec-2023

  • Close Date

    21-Dec-2023

  • Basis of Allotment Date

    22-Dec-2023

  • Initiation of Refunds

    26-Dec-2023

  • Credit Shares to Demat A/c

    26-Dec-2023

  • IPO Listing Date

    27-Dec-2023

Subscription as on
21-Dec-2023 18:28

Category Book Size Subscription No. of Times
QIB 2,373,160 ₹ 201.72 Cr. 509,404,218 ₹ 43299.36 Cr. 214.65x
HNI (<10 LAKH) 593,291 ₹ 50.43 Cr. 30,029,242 ₹ 2552.49 Cr. 50.61x
HNI2 (>10 LAKH) 1,186,580 ₹ 100.86 Cr. 82,903,356 ₹ 7046.79 Cr. 69.87x
RETAIL 4,153,031 ₹ 353.01 Cr. 63,961,582 ₹ 5436.73 Cr. 15.40x
Total 8,306,062 686,298,398 82.63x
Category Book Size Subscription No. of Times
QIB 2,373,160 ₹ 201.72 Cr. 509,404,218 ₹ 43299.36 Cr. 214.65x
HNI (<10 LAKH) 593,291 ₹ 50.43 Cr. 30,029,242 ₹ 2552.49 Cr. 50.61x
HNI2 (>10 LAKH) 1,186,580 ₹ 100.86 Cr. 82,903,356 ₹ 7046.79 Cr. 69.87x
RETAIL 4,153,031 ₹ 353.01 Cr. 63,961,582 ₹ 5436.73 Cr. 15.40x
Total 8,306,062 686,298,398 82.63x

*Excluding Anchor

Total No. of Application Approx : ~3298219 (13.50 Appwise)

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

About Company

  • Happy Forging Limited (“HFL”) was incorporated on July 2, 1979. HFL is the 4th largest engineering led manufacturer of complex and safety critical, heavy forged and high precision machined components in India as of Fiscal 2023 in terms of forgings capacity. They, through their vertically integrated operations, are engaged in engineering, process design, testing, manufacturing, and supply of a variety of components that are both margin accretive and value-additive.
  • The company primarily caters to domestic and global original equipment manufacturers (“OEMs”) manufacturing commercial vehicles in the automotive sector, while in the non-automotive sector, they cater to manufacturers of farm equipment, off-highway vehicles and manufacturers of industrial equipment and machinery for oil and gas, power generation, railways, and wind turbine industries.
  • With over 40 years of experience of manufacturing and supplying quality and complex components according to customers specifications, HFL has emerged as a leading player in the domestic crankshaft manufacturing industry with the 2nd largest production capacity for commercial vehicle and high horse-power industrial crankshafts in India.
  • HFL manufactures a wide range of heavy forged and machined products which include crankshafts, front axle beams, steering knuckles, differential cases, transmission parts, suspension products and valve bodies across industries.
  • HFL is among the few companies in India with the capability to manufacture and supply high precision safety critical components to leading OEMs including manufacturers of commercial vehicles, farm equipment, off-highway and industrial equipment and machinery for oil and gas, power generation, railways and wind turbine industries. As of March 31, 2023, they are only the 2nd company in India to have a 14,000-tonne forging press or higher forging press and are among the 4 companies in India that possess 8,000 tonne forging press or higher forging press.
  • company’s focus on the high HP engine segment insulates them from any potential electric vehicle (“EV”) disruption as hydrogen, compressed natural gas (“CNG”) and liquified natural gas (“LNG”) combustion engine technologies are expected to become prominent alternate powertrain technologies in this segment and crankshaft as a product is compatible to such combustion engines with minimal/ no alterations.
  • HFL is a supplier to each of the Top-5 Indian OEMs, by market share, in the medium and heavy commercial vehicle industry and 4 of the Top-5 Indian OEMs in the farm equipment industry by market share, in Fiscal 2023
  • Company’s strength in machining and overall value addition to products has enabled them to achieve the highest EBITDA margin among the peers in the last 2 Fiscals. They recorded an increase in their revenue from operations by 104.55% from ?584.96 crore in Fiscal 2021 to ?1,196.53 crore in Fiscal 2023.
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Strengths

  • 4th largest engineering led manufacturer of complex and safety critical, heavy forged and high precision machined components in India
  • Integrated manufacturing operations coupled with in-house product and process design capabilities resulting in a diverse product portfolio with increasing value addition
  • Diversified business model, well placed to take advantage of potential alternative engine technologies
  • Long-standing relationships with customers across industries
  • Track record of consistently building capabilities and infrastructure, with focus on capital efficiency
  • Experienced Promoters and senior management team
  • Track record of healthy financial performance

Company Promoters

The Promoters of the company are Paritosh Kumar, Ashish Garg, Megha Garg, Ayush Capital & Financial Services Pvt Ltd, Garg Family Trust, Paritosh Kumar Garg (HUF) and Ashish Garg & Sons (HUF)

Company Financials

Happy Forgings Limited's revenue increased by 38.81% and profit after tax (PAT) rose by 46.67% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 31 Mar 2023 31 Mar 2022
Assets 1,326.17 1,129.87
Revenue 1,202.27 866.11
Profit After Tax 208.70 142.29
Net Worth 988.31 787.62
Reserves and Surplus 978.66 769.72
Total Borrowing 218.52 240.35
Amount in ? Crore

Objects of the Issue

  • Purchase of equipment, plant, and machinery
  • Prepayment of all or a portion of certain outstanding borrowings availed by the company
  • General Corporate Purposes

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to InvestoYard.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with InvestoYard, in just a few clicks your application is processed. You can bid for any IPO through InvestoYard, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on InvestoYard’s IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

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